According to data released by the government, there was a tremendous increase in electronic toll collection in India during the festive month. Due to the increase in economic activities, electronic toll collection in the country increased to a record Rs 6,114.92 crore in October this year.
These are the figures
According to official data, this is the highest ever collection in a month since the collection of electronic toll data began in 2021 and marks a growth of 7.6 per cent over the monthly average of Rs 5,681.46 crore in the previous six months. The total electronic toll collection in the country in the first six months of this fiscal stood at Rs 34,088.77 crore, up 9.8 per cent from Rs 31,026.64 crore a year ago.
The growth in toll collection was also supported by Goods and Services Tax Network (GSTN) data on e-way bill generation for transportation of goods across the country, which hit a record high of 11.7 crore during October, registering a growth of 17 per cent over the same month last year.
The increase in e-way bills reflects an increase in economic activity as the manufacturing sector ramps up to meet the growing demand in the economy during the festive season. The increase in e-way bills has a ripple effect on the fast-growing economy and also raises revenue. This provides the government with resources to invest in infrastructure projects and uplift the poor.
India’s goods and services tax (GST) collection rose to Rs 1.87 lakh crore in October, the second-highest monthly revenue since the GST system was implemented in 2017. The figure represents a growth of 8.9 per cent over the same month last year and is on top of the Rs 1.73 lakh crore collection in September, which grew 6.5% year-on-year.